Sheriffs in town. So are wolves of wall streets.
As appropriation in motion, the new normal seems to be nothing but the old normal with a new face.
Be your own bank or only the next all-time high benchmarked in fiat?
To the moon. Or better, “to Mars,” in Elon Musk style?
An interesting illustration by CT team, and a very good perspective from another angle by the article’s author. (Link below)
Reading Notes：
Headlines
- Bitcoin has become nothing but the new Che Guevara T-shirt
- Institutional investors won’t take Bitcoin mainstream — You will
Bitcoin has become nothing but the new Che Guevara T-shirt
The wonder of the universe is that
it is always in motion and,
because of this, that
everything changes over time.
So, anything can be
something completely different tomorrow,
just like that
— no guarantees.
“Chancellor on brink of second bailout for banks”: This phrase from The Times is even recorded forever in the genesis block of the Bitcoin blockchain.
In politics, there is a phrase that says that if you did something so good and so wonderful to change the world that even your opponents are applauding you, it means you did everything wrong.
“Fiat sucks,” but the more Bitcoin is worth in U.S. dollars, the better.
After all, what matters is that 1 Bitcoin will always be equivalent to 1 Bitcoin. It matters how much I bought and how much I hope to sell in order to buy more. Understanding Bitcoin or simply buy sell?
Institutional investors won’t take Bitcoin mainstream — You will
Bitcoin was not just another asset proposed as a hedge against inflation in Satoshi’s original Bitcoins white paper.
Bitcoin’s whole idea stemmed from the failed financial institutions and third parties and a possible solution that would be effective in everyday life.
With every institutional investor and the big guns of finance swinging into Bitcoin investment, Bitcoin’s popularization as an asset has become inevitable.
Some of the ideal, real-world applications that could challenge failing fiat currencies and propel Bitcoin into the mainstream:
- Online purchases
- Cross-border transactions and travel
- Bitcoin ATMs – bridging two monetary worlds
- In 2014, using BitPay as its payment processor, Microsoft became one of the first tech companies to accept Bitcoin to purchase digital goods.
- In October 2020, the popular American payments company PayPal announced that it would enable cryptocurrency as a funding source for purchases in 2021.
In all fairness, the goal has never been to phase out local currencies but to create a world where Bitcoin is as relevant as any fiat currency.
There has been an increasing trend every year with an average of one ATM now being added every hour.